KATHMANDU, May 22: Nepal Rastra Bank (NRB) is set to mop Rs 100 billion from the banking system today, as part of its ongoing liquidity management initiative.
The central bank announced through a public notice that it is utilizing its deposit collection instrument for a maturity period of 61 days.
According to the NRB, the bidding process will be conducted electronically through its Online Bidding System software and will conclude by 3pm today.
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The principal amount along with the accrued interest for this structural liquidity tool will be paid back on July 21.
Licensed banks and financial institutions (BFIs) wishing to participate in the auction can submit bids for a minimum of Rs 100 million.
Higher bidding amounts must be cleanly divisible by Rs 50 million within the aggregate ceiling of the total called amount.
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